Patton Fund Management Inc. Takes Position in Hershey Company (The) $HSY

Key Points

• Patton Fund Management Inc. acquired a new stake in Hershey Company, purchasing 1,608 shares valued at approximately $267,000 during the second quarter.
• Analysts have recently increased their target prices for Hershey stock, with Bank of America's target rising from $175 to $208 and Stifel Nicolaus raising theirs from $160 to $180.
• Hershey reported a significant increase in quarterly revenue, reaching $2.61 billion and exceeding analysts' expectations, with earnings per share of $1.21.

Patton Fund Management Inc. purchased a new stake in Hershey Company (The) (NYSE:HSY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,608 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds also recently made changes to their positions in HSY. Proffitt & Goodson Inc. acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $28,000. Tradewinds Capital Management LLC boosted its stake in shares of Hershey by 129.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Fort Vancouver Investment Management LLC acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $34,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $36,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on HSY shares. Wells Fargo & Company lifted their target price on shares of Hershey from $154.00 to $157.00 and gave the stock an "underweight" rating in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their target price on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Bank of America lifted their target price on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Barclays lifted their target price on shares of Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $174.05.

Hershey Stock Up 1.6%

Shares of NYSE HSY opened at $188.26 on Friday. The company has a market capitalization of $38.16 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 4.54 and a beta of 0.27. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. The company's 50 day moving average price is $184.86 and its 200-day moving average price is $172.53.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company's revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities analysts forecast that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were paid a $1.37 dividend. The ex-dividend date was Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.9%. Hershey's payout ratio is currently 72.78%.

Insider Activity at Hershey

In other news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at $6,852,240. The trade was a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the completion of the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $37,563,056. This represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,627 shares of company stock worth $16,043,435. 0.34% of the stock is owned by insiders.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

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